Tail

In insurance, a tail refers to claims and losses that have not yet been reported or discovered.

Tail Coverage

For claims-made policies, tail coverage is purchased to protect against losses or claims which have not yet been discovered or reported. In this case, a retroactive date is purchased. For occurrence policies, this is unneccesary as claims are handled according to when they happened instead of when they were reported or discovered.

Term Life Insurance

A life insurance policy purchased to cover a specific time period as opposed to the end of your life. Term policies may be written to expire at the end of a time period such as one, five or ten years or at a certain age of the insured.

Terrorist Coverage

Protects against damage caused by acts of terrorism.

Time Element Coverage

Time element insurance provides insurance for a covered incident resulting in loss of use of property for a period of time. The loss is consicered to be time lost, not actual property damage. Examples of time element coverage are Business Interruption, Extra Expense, Tuition Fees, Rents and Rental Value, Additional Living Expenses, and Leasehold Interest coverage.

Tort

A tort is an unintentional violation of another person's rights, usually due to negligence. It is different than a crime, which generally is an intentional violation of another's rights. A tort is subject to civil action and subsequent judgement for damages payable to the wronged party, whereas a crime is subject to criminal action and subsequent penalty.

Transit Coverage

Coverage of the insured's property while in transit over land from one location to another. Property insurance policies typically provide coverage only at locations identified in the policy.

Truckers Liability Coverage

Auto liability coverage for owners and operators of businesses which transport the goods of others by land for a fee. This coverage is regulated by the Department of Transportation.